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What Kind of Buyer Feedback Should You Expect If Your Practice Isn’t “Turnkey”?

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Not Every Practice Is Turnkey — And That’s Okay

In an ideal world, every dental practice for sale would be modern, efficient, fully staffed, and ready for a seamless transition. But in the real world? Many great practices need some level of updating, cleanup, or support before a buyer feels ready to take over.

If you’re preparing to sell and your practice isn’t fully “turnkey,” that doesn’t mean it won’t sell. It just means you should be prepared for certain types of buyer feedback—and know how to respond to it.

— Knowing what to expect can help you stay calm, objective, and strategic during the sale process.

Common Buyer Feedback on Non-Turnkey Practices

1. “The equipment is outdated”

Buyers may express concern if your chairs, delivery units, or technology (x-rays, sensors, practice management software) are more than 10–15 years old.

— What it really means:

They’re mentally calculating how much they’ll need to invest after closing. It’s less about cosmetics, and more about functionality and cost.

— How to respond:

Be honest about the age of your equipment. If it still functions well, say so—and provide maintenance records if available. You may also consider adjusting your asking price slightly if major upgrades are needed.

2. “The financials are hard to follow”

Buyers and banks want clean, easy-to-understand financial records. If your bookkeeping is messy or inconsistent, they’ll raise red flags.

— What it really means:

They’re not confident they can trust the numbers—and that makes financing difficult.

— How to respond:

Get help from your CPA or broker to clean up and summarize your last 3 years of tax returns, P&Ls, and production reports. A buyer who sees effort and transparency is more likely to stick with the deal.

3. “I’m concerned about staff turnover or morale”

If your practice has had recent staff changes—or the team seems disengaged—buyers may worry about continuity after the sale.

— What it really means:

They fear they’ll lose institutional knowledge or patient relationships if staff leave post-sale.

— How to respond:

Be proactive. Offer short-term retention bonuses, outline who’s staying, and talk about the strengths of your remaining team. A buyer wants to see a plan, not perfection.

4. “The systems seem a bit disorganized”

If you’re still using paper charts, have a loose recall system, or your scheduling and billing processes are informal, buyers may be hesitant.

— What it really means:

They’re asking: “How much work will it take to modernize this?” It’s a question of time, effort, and staff training.

— How to respond:

Highlight the strengths of your current system. If your paper system is consistent and works, say so. Also, emphasize any opportunities the buyer has to streamline and make the practice their own.

5. “It feels like there’s no clear transition plan”

Even if your practice is profitable, buyers may hesitate if it’s unclear how patients and staff will be introduced to the new owner.

— What it really means:

They’re worried about patient attrition and post-sale chaos.

— How to respond:

Share your plan to communicate the transition to patients, offer to stay on for a short period, and discuss how you’ll support the buyer through credentialing, introductions, and continuity of care.

Turning Buyer Feedback Into Opportunity

The best sellers don’t take feedback personally—they use it to identify roadblocks, adjust expectations, and show flexibility where it matters most.

Some simple ways to stay proactive:

  • Ask your broker for feedback summaries after showings or buyer calls

  • Document what’s working well, even if it’s not shiny or new

  • Be transparent about challenges, and show a willingness to help solve them

  • Don’t fix everything—just the right things that matter most to buyers

A non-turnkey practice can still be a great opportunity—especially if the buyer feels informed, supported, and respected throughout the process.

Final Thoughts: It’s About Confidence, Not Perfection

Most buyers know that no practice is perfect. What they’re really looking for is transparency, realistic expectations, and a seller who’s invested in a smooth transition.

Whether your office needs a few updates or a full refresh, the right buyer will appreciate your honesty—and may even see the chance to make it their own as a benefit, not a burden.

Need Help Positioning Your Practice for Buyers?

At American Practice Consultants, we help sellers navigate buyer feedback, anticipate objections, and tell the full story of their practice—strengths, quirks, and all. You don’t need a perfect practice to sell. You just need a thoughtful plan.

📞 Schedule a confidential consultation to learn more.

What Makes a Dental Practice “Turnkey”? (And Why That Matters to Buyers)

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What Does “Turnkey” Really Mean?

If you’re preparing to sell your dental practice, you’ve probably heard the term “turnkey” thrown around by brokers, buyers, and lenders. But what does it really mean—and why does it matter?

In short, a turnkey dental practice is one that’s ready for a new owner to walk in, hang their license, and start seeing patients immediately with minimal disruption. No major upgrades. No staffing overhauls. No patient communication issues. Just a smooth transition.

— Think of a turnkey practice like a well-maintained car: the buyer just needs the keys—they don’t want to rebuild the engine.

Why Buyers Love Turnkey Practices

From the buyer’s point of view, a turnkey practice reduces risk, stress, and startup costs. It signals that:

  • The practice has been well-managed

  • Systems and workflows are already in place

  • Staff are trained, retained, and engaged

  • Patients are accustomed to the structure and ready to continue care

  • Cash flow will continue from day one

In a competitive market, turnkey practices command stronger interest and often sell faster—sometimes with better offers.

What Makes a Dental Practice Truly Turnkey?

Here’s what buyers are really looking for:

1. Clean and Organized Financial Records

Buyers and banks need clear, reliable financials. That includes:

  • 3 years of tax returns and profit & loss statements

  • Production and collection reports

  • Fee schedules and insurance participation lists

  • Payroll and overhead details

  • A/R aging reports

If it takes weeks to track down basic numbers, buyers will lose confidence—or walk away.

2. Trained and Stable Staff

Turnkey doesn’t just mean equipment—it means people. Buyers look for:

  • Low staff turnover

  • Clearly defined roles

  • Employees willing to stay through the transition (at least 3–6 months)

  • A positive, professional team culture

Pro tip: Many sellers offer a small retention bonus to staff who stay through a set period post-sale. It’s a smart investment.

3. Efficient Systems and Workflows

Buyers want to know the practice runs smoothly. That means:

  • Reliable scheduling and billing systems

  • Digital charting and x-rays (if possible)

  • A recall system that works

  • Software and workflows the team can explain and use effectively

Even if your systems are basic, consistency matters more than flash.

4. Clean, Well-Maintained Equipment

You don’t need the latest CBCT scanner, but your operatories should be:

  • Fully equipped and operational

  • Clean and up to infection control standards

  • Free of broken or outdated equipment

Buyers want to start working—not fix suction lines on day one.

5. A Lease or Real Estate Situation That’s Ready

If you lease your space, make sure the lease is assignable or renewable. If you own the building, decide before listing whether you want to sell or lease it.

Buyers don’t want to negotiate a lease from scratch at the last minute. A clear plan builds confidence.

6. Patient Retention Plan

The goodwill of your practice is built on patient relationships. Buyers love to see:

  • A drafted patient letter announcing the transition

  • Planned handoff messaging from you to your patients

  • Continued hygiene scheduling

  • A plan for insurance credentialing support

It shows you’re invested in making the transition smooth—for patients and the buyer.

“Almost Turnkey” vs. “Truly Turnkey”

A practice that looks great on paper but is disorganized behind the scenes can scare off buyers. Likewise, a practice that’s a bit dated—but has great staff, solid systems, and loyal patients—might be more “turnkey” than you think.

Ask yourself:

  • If I handed over the keys tomorrow, could a new dentist succeed here without reinventing everything?

  • Or would they have to clean up records, restaff, or fix broken systems first?

Final Thoughts: Turnkey Means Confidence

Buyers want to walk into a practice that feels ready. They’re not just buying collections—they’re buying peace of mind, momentum, and the ability to hit the ground running.

— The more turnkey your practice is, the faster it can sell—and the smoother the transition will be for everyone involved.

Want Help Preparing Your Practice for Sale?

At American Practice Consultants, we specialize in helping sellers get their practices “buyer-ready”—without overinvesting or overthinking it. From document prep to positioning, we’ll help you highlight what makes your practice turnkey.

📞 Contact us today for a confidential consultation.

Can I Sell My Dental Practice Without Real Estate? What Sellers Should Know

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Selling the Practice… But Keeping the Property?

If you own your dental office building and you’re preparing to sell your practice, one big question often comes up:

“Do I have to sell the real estate too?”

The short answer is: No — but it depends.

Many dentists choose to sell their practice but retain ownership of the building, either as a long-term investment or for greater flexibility. Others prefer to sell both together to simplify the transition.

In this post, we’ll walk through your options, the pros and cons of selling with or without the real estate, and what you need to know to make the right decision.

Option 1: Sell the Practice, Lease the Space

This is one of the most common approaches. You sell your dental practice and become the landlord, leasing the space to the new owner.

Benefits:

  • Creates long-term income through rent payments

  • Keeps you tied to the property in a familiar area

  • May attract buyers who aren’t ready to purchase real estate

  • Can offer more flexibility on price or terms

Considerations:

  • You’ll need a formal lease agreement that’s assignable and bank-approved

  • Buyers (and lenders) will want market-rate lease terms and long-term stability (usually 5–10 years minimum)

  • You’ll retain responsibilities as the landlord (maintenance, insurance, taxes, etc.)

  • Your ability to raise rent is limited by the lease, often for 5+ years

Pro Tip: If you’re planning to keep the real estate, work with your broker and attorney to structure the lease before listing the practice.

Option 2: Sell the Practice and the Real Estate

Some sellers prefer to make a clean break—transitioning both the practice and property to the buyer in a single deal.

Benefits:

  • One-time payout simplifies your financial future

  • No ongoing landlord obligations

  • Often results in faster closings and simplified negotiations

Considerations:

  • Fewer buyers may be willing (or financially able) to purchase both at once

  • You may need to discount the real estate slightly to facilitate a package deal

  • Tax implications for selling both assets together should be reviewed with your CPA

This option is especially common when the seller is relocating or retiring out of the area.

Option 3: Sell the Real Estate Later (After the Practice Sale)

This hybrid strategy involves selling the practice first and retaining ownership of the building for a few years, with the intent to sell later—often to the same buyer.

Benefits:

  • Keeps initial costs lower for the buyer

  • Allows you to negotiate a sale-leaseback later, possibly at a higher property value

  • Provides ongoing income with a potential exit plan

Considerations:

  • Must have a clearly defined lease and exit strategy

  • Depends on the buyer’s willingness to eventually purchase the building

  • Could result in holding a property longer than planned if the buyer changes their mind

This strategy works well when the seller wants to time the real estate sale for tax or investment reasons.

What Buyers (and Lenders) Will Expect

If you plan to lease the building, make sure your lease agreement includes:

  • A minimum 5–10 year term, ideally with renewal options

  • Fair market rent supported by comps or appraisal

  • Triple-net terms (NNN) are preferred, where the tenant pays taxes, insurance, and maintenance

  • A clear assignment clause, so the lease can transfer to the buyer without triggering default

Lenders view the lease as critical collateral—if it’s weak or missing, the loan could be denied.

Key Questions to Ask Yourself as the Seller

  1. Do I want long-term passive income, or a clean break?

  2. Am I comfortable managing a commercial property?

  3. Is the buyer qualified and interested in purchasing both?

  4. What are the tax implications of selling one vs. both assets?

  5. What role does the real estate play in the value of the practice?

Final Thoughts: Choose the Strategy That Supports Your Goals

There’s no one-size-fits-all answer. Selling your dental practice without the real estate is absolutely possible—but it requires advance planning, professional guidance, and the right buyer.

  • Whether you keep the building as an investment or sell it as part of the transition, aligning your strategy with your long-term goals is the key to a successful exit.

Need Guidance on Structuring Your Sale?

At American Practice Consultants, we help sellers navigate every piece of the transition—from valuing the practice to structuring real estate lease terms or sales. If you’re thinking about selling your practice (with or without the building), let’s talk.

📞 Schedule a confidential consultation today.

Seller Financing in Dental Transitions: What It Means and When to Consider It

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What Is Seller Financing in a Dental Practice Sale?

In a traditional dental practice sale, the buyer typically secures a loan from a third-party lender—often a dental-specific bank—to cover the full purchase price. But sometimes, that’s not possible or ideal. That’s where seller financing comes in.

  • Seller financing means the seller agrees to finance a portion of the purchase price, allowing the buyer to make payments over time—usually with interest—directly to the seller.

Think of it like the seller becoming the bank for part of the deal.

Why Would a Seller Offer Financing?

Offering seller financing may not be your first thought, but in certain scenarios, it can be a smart strategy. It can:

  • Attract more buyers, especially if traditional lenders are tightening credit.

  • Speed up the sale by removing financing delays.

  • Preserve your asking price when a buyer has limited capital but strong potential.

  • Generate interest income on the financed portion.

  • Demonstrate confidence in the practice’s performance to the buyer.

In short: Seller financing can help get the deal done—and done on your terms.

When Does Seller Financing Make Sense?

Here are common scenarios where seller financing is worth considering:

1. Buyers with Great Potential but Limited Capital

Some associate dentists have the clinical skills and leadership potential to succeed—but lack a large down payment. If they’re creditworthy and committed, seller financing may help bridge the gap.

2. A Difficult Lending Environment

If interest rates rise or lenders become more risk-averse, even qualified buyers may struggle to secure full funding. Seller financing can keep the deal alive.

3. A Unique Practice or Challenging Location

If your practice is rural, highly specialized, or has quirks that make lenders nervous, seller financing can make it more marketable without slashing the price.

4. You’re Not in a Rush for a Full Payout

If you’re financially stable and don’t need all the funds upfront, offering a note can provide steady income—with interest.

How Is Seller Financing Typically Structured?

Seller notes are usually:

  • Term: 3 to 7 years

  • Interest rate: Often between 6%–9%, depending on the market

  • Monthly payments: Principal + interest (like a traditional loan)

  • Security: The buyer pledges the practice assets as collateral

  • Down payment: Still required, typically from a bank loan or cash

A broker or attorney can help you structure the deal to protect both parties.

How Sellers Can Protect Themselves

While seller financing carries some risk, there are ways to safeguard your interests:

  • Run a full credit check on the buyer

  • Request a personal guarantee

  • Secure the note with a UCC filing

  • Include default provisions and rights to reclaim ownership if needed

  • Work with a dental-specific attorney to draft ironclad terms

Pro tip: Always vet the buyer just like a bank would. If you wouldn’t lend them $300,000 personally, don’t do it as part of your transition.

When NOT to Offer Seller Financing

Seller financing isn’t right for every deal. It may not be a good fit if:

  • You need full payment at closing for retirement or another purchase

  • You’re uncomfortable with risk

  • The buyer has a weak financial history or limited clinical experience

  • The practice already has cash flow issues

Always speak with your financial advisor or broker to weigh the pros and cons in your specific situation.

Final Thoughts: Seller Financing Is a Tool, Not a Compromise

Offering seller financing doesn’t mean you’re “settling.” It can be a strategic tool to help you:

  • Attract a motivated buyer

  • Close faster

  • Preserve your asking price

  • Generate interest income post-sale

In today’s market, flexibility can go a long way—especially when paired with the right protections.

Need Help Structuring a Dental Transition?

At American Practice Consultants, we help sellers understand all their options—from traditional sales to hybrid deals with seller financing. If you’re thinking about selling and want to explore what makes sense in today’s market, we’re here to guide you.

📞 Schedule a confidential consultation today.

The Emotional Side of Selling Your Dental Practice: How to Prepare for What Comes Next

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Why Selling Your Dental Practice Is More Than Just a Deal

For most dentists, your practice isn’t just a place of work — it’s the result of decades of care, effort, and personal sacrifice. It holds your team, your patients, your identity, and your legacy. So when it comes time to sell, even the most logical and well-planned transitions can stir up complex emotions.

  • The spreadsheets may say one thing — but your heart might say another.

In this post, we’ll explore the emotional side of selling your dental practice, why it matters, and how you can begin preparing for what comes next with clarity and confidence.

Common Emotions Sellers Experience (That No One Warns You About)

You’re not alone if you feel a surprising emotional weight during the sale process. Sellers often experience:

  • Loss of Identity: “Who am I if I’m not Dr. Smith from Main Street Dental?”

  • Fear of Regret: “Am I really ready to step away?”

  • Guilt or Anxiety: “What about my team? My patients?”

  • Nostalgia and Sentimentality: Walking out of an operatory for the last time can hit hard.

  • Uncertainty About the Future: Even if you’re financially ready, mentally moving on is another story.

These feelings are normal. But they can also derail the transition if they’re not acknowledged and managed properly.

Emotional Preparation Is Just as Important as Financial Planning

When you plan your exit, most advisors focus on:

  • What the practice is worth

  • How to minimize taxes

  • How to structure the deal

All critical pieces. But emotional readiness is the glue that holds it all together.

Why it matters:

  • Sellers who aren’t emotionally ready may stall deals, second-guess buyers, or renegotiate unnecessarily.

  • Unaddressed emotions can cause friction with staff or family during the transition.

  • Feeling lost or unfulfilled after the sale is common without a plan for life after dentistry.

A well-prepared seller is not just financially ready — they’re mentally and emotionally aligned with the decision.

5 Questions to Ask Yourself Before You Sell

  1. Why am I selling — really?

    Is it about retirement, burnout, relocation, health, or timing the market?

  2. What will my days look like after I sell?

    Have you envisioned your next chapter?

  3. Have I talked to anyone who has sold their practice before?

    Learning from others can help normalize what you’re feeling.

  4. What parts of practice ownership will I miss most — and least?

    This can help shape what you want to keep (mentorship, part-time work, consulting) vs. what you’re ready to let go.

  5. Am I proud of the legacy I’m leaving behind?

    If yes, the transition will feel more complete. If not, there’s still time to shape it.

What About My Staff and Patients?

Many sellers carry deep concern about “abandoning” their team or community. That sense of responsibility is noble — and part of what made your practice great.

Here’s how to honor that legacy:

  • Choose the right buyer — someone who shares your values and will care for your team.

  • Communicate clearly when the time is right (your broker can help with timing and messaging).

  • Stay involved briefly post-sale to help with the transition, if possible.

  • Offer staff incentives to stay on and support the new owner.

Letting go doesn’t mean you’ve let them down. It means you’ve chosen the right time — and the right successor.

Replace, Don’t Retire

Instead of thinking about what you’re losing, reframe the sale as a pivot to something new.

Ask yourself:

  • Is there a volunteer organization I’ve always wanted to support?

  • Do I want to teach or mentor the next generation of dentists?

  • Could I write, consult, or take on locum work at my own pace?

  • What hobbies or travel plans have I put off?

You’re not retiring from dentistry — you’re retiring to a life you get to design.

Final Thoughts: Selling Your Practice Is the Start of a New Chapter

No one talks enough about the emotional side of selling a dental practice — but it’s real, and it matters. The good news? With the right preparation, support, and mindset, you can make this transition with confidence and peace of mind.

And remember:

You’re not just walking away from a practice — you’re walking toward a new purpose.

Need Help Navigating the Transition?

At American Practice Consultants, we understand that selling your dental practice is both a financial and emotional decision. We’ve helped hundreds of dentists move forward with clarity and confidence — and we’re here to do the same for you.

📞 Schedule a confidential consultation today.

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